News - Insurance
STATISTICS: KYRGYZSTAN, 1H2020: All market segments recorded negative GWP dynamics, except for life insurance
In 1H2020, the insurance market of Kyrgyzstan decreased by more than 22% y-o-y, to KGS 405 million (~EUR 4.74 million*), as the data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic show.
20 August 2020AXA is in talks to sell its Greek operations to GENERALI, market rumors say
French insurer AXA is in talks to sell its Greek operations to Italian group Assicurazioni GENERALI, Blomberg reports citing sources, "as part of its plans to ditch business lines deemed surplus to requirements".
19 August 2020KOSOVO: CBK temporarily reduces border-MTPL tariffs by 35%
The Executive Board of the Central Bank of the Republic of Kosovo in the meeting held on July 29 has decided to temporarily reduce the motor liability border insurance.
19 August 2020UZBEKISTAN: In 1H2020 UZBEKINVEST increased its international reinsurance presence by 8 times
In the first half of 2020, UZBEKINVEST insurance company increased its presence in the international reinsurance market by 8 times, as Trend reports citing the company.
19 August 2020RUSSIA: GWP of ROSGOSSTRAKH Life in 1H2020 increased by 2.5 times y-o-y
For the first half of 2020, total GWP of ROSGOSSTRAKH Life exceeded RUB 9.5 billion (~EUR 120.3 million*) and the insurer's market share grew by 4.9%, allowing the company to rank 6th (vs. 12th position a year ago) in the local market ranking, as the insurer mentions in its press release.
19 August 2020Talanx Group, 1H2020: Net income fell to EUR 325 million, negatively affected by coronavirus
For the first six months of 2020, Talanx Group generated a net income of EUR 325 million, 31.8% lower year-on-year, negatively affected by the impact of coronavirus on the economy, just like the majority of European insurance groups.
19 August 2020IGI, 2Q2020: Net profit after tax increased to USD 12 million
International General Insurance (IGI) ended the second quarter of 2020 with a net profit (after tax) of USD 12 million, 43% higher year-on-year.
19 August 2020Beirut explosion insurance claims reached USD 425 million
Insurance claims from the 4th August Beirut explosion reached USD 425 million, Caretaker Economy Minister Raoul Nehme said, as mentioned by Middle East Insurance Review.
18 August 2020Insurance Europe responds to ESAs consultation on ESG disclosures
Insurance Europe has published its response to the European Supervisory Authorities' (ESAs) joint consultation concerning environmental, social and governance (ESG) disclosures.
18 August 2020Brian James appointed as IGI's Class Underwriter for Cargo
International General Insurance Holdings announced the appointment of Brian James as Class Underwriter for Cargo.
18 August 2020UKRAINE: January-June Green Card premiums decreased by more than 36% y-o-y
GWP under Green Card policies of Ukrainian insurance companies in the first half of 2020 decreased by 36.4% y-o-y, Forinsurer reports.
18 August 2020Lloyd's Underwriting Room reopens on 1 September
Lloyd's has announced its Underwriting Room reopens on 1 September, while some digital enhancements were made, to complement and connect with the best features of the physical Underwriting Room.
18 August 2020LITHUANIA: Unit-linked insurance more transparent - after the Central Bank declares its position, consumers receive greater benefits
Most insurance undertakings operating in Lithuania and providing unit-linked insurance services considered the Bank of Lithuania's position on the recovery of management fees (rebates). As a result, unit-linked insurance clients already benefit more and can accumulate more capital.
17 August 2020Global Commercial insurance pricing up 19% in Q2
Global insurance broker MARSH released last week the Global Insurance Market Index for the second quarter of 2020. The increase, the largest since the index was launched in 2012, follows y-o-y average increases of 14% in the first quarter and 11% in the fourth quarter of 2019.
17 August 2020AIG Appoints David McElroy CEO, General Insurance, and Executive VP
American International Group announced that David McElroy, currently President and Chief Executive Officer of the North American operations of General Insurance, has been promoted to Chief Executive Officer, General Insurance, and Executive Vice President, AIG, effective immediately.
17 August 2020WTW appoints Fiona SHAW to head Data & Analytics for global fac. team
WILLIS TOWERS WATSON (WTW) announced the appointment of Fiona SHAW as head of Data, Analytics and Innovation for its global Facultative business.
17 August 2020ROMANIA: In Q1, gross claims paid by local insurers reached EUR 371 million, up 14.2% y-o-y
In 1Q2020, Romanian insurers reported gross paid indemnities (excluding maturities and partial and total redemptions), cumulated for life and non-life insurance, to the amount of EUR 371 million, up 14.17% y-o-y. Excluding maturities and partial and total redemptions, the amount was of EUR 327.4 million.
13 August 2020Zurich Insurance Group, 1H2020: Net income stood at USD 1.2 billion
For the first six months of 2020, Zurich Insurance Group (Zurich) reported a net income of USD 1,181 million, 42% lower year-on-year.
13 August 2020Aegon, 1H2020: Underlying earnings before tax, sustained by UK, International and Asset Management segments
Aegon Group ended the first half of 2020 with a net income of EUR 202 million, 67% smaller when compared to the same period of 2019.
13 August 2020STATISTICS: ALBANIA, 1H2020: Insurers' January-June GWP compressed by 6.7% y-o-y
According to the six months 2020 market statistics published by Albanian Financial Supervisory Authority (AFSA), the gross written premiums of Albanian insurers amounted to over ALL 7.54 billion (~EUR 60.67 million*), or 6.66% less compared to January-June 2019.
13 August 2020
